Blog 15: Alternate Cryptocurrencies, How you can basically become a millionaire by setting a few dollars, Some good Altcoins to invest in.
Altcoins or Alternative Cryptocurrencies are all the rage and have been since they’ve been popping off like crazy. Some actually have more searches and data pockets than Bitcoin and Dogecoin and some have a low tax rate. Oh, you thought you escaped taxes well, so did I but, here we are. In this blog, we are gonna go over three things.
- What exactly are Altcoins
- How to buy them and how much money do you need to buy one?
- What are some good coins to put some money in?
Before we dive in allow me to introduce myself, My name is Akshith Konda. I’m a 21 year old College Student and I am the CEO, Writer, and, Author, and Editor of The Finance Spot. It’s just something I do for fun, I’m also the CEO, Main Host and Business Director of the On Your Own Two Feet Podcast.
I write easy to understand and simple content for any age group and level of understanding. If you wanna know more about the Podcast here’s a summary.
On Your Own Two Feet is a motivational/sociocultural podcast in which we dive into the big topics of human, cultural, and philosophical lifestyles, making it engaging, entertaining and easy to understand for today’s youth and Tik Tok Generation.
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Our first episode Has aired only on Spotify. We ran into issues getting it on to other platforms, Episode 2 may not air till after May 13th.
All members of the OYOTF team are college students and it’s finals week so yea we’ve got our first Vibe Check with a couple of Entrepreneurs and we can’t wait to show you what’s next for OYOTF, we’ll still be here with plenty of jokes and wise cracks all over Elon Musk’s SNL performance and Dogecoin… is that too much… LMK in the comments below.
What Exactly Are Altcoins?
Altcoins and other cryptos are not as different as they may seem. Altcoins, like most mainstream Cryptos mine data and reward their miners with the currency of their choice, with Altcoins its actually a bit more different than that, Altcoins need less power and computing space to mine and they also need less time to be mined from the data stream.
Altcoins are pretty common to find but there are many kinds of Altcoins on the internet that can be mined but mining Altcoins actually takes a long time to do because while it takes a shorter amount of time to mine it takes a long time to generate a wallet powerful enough to store your coins. To circumvent that process and so most people go to a private exchange and use a coin called Binance Coin to purchase their Altcoin of choice.
What is the Cryptographic purpose of Binance Coin?
The Cryptocurrency Binance Coin is a universal conversion coin designed to fit into the mold of most or all Altcoins in private or public exchanges. Binance Coin can be purchased and converted into any mold or exchange.
How to buy them and how much money do you need to buy one?
So in order to get into the Altcoin Market, you need to find a Altcoin Exchange. Here are 2 of the most popular Exchanges to get started with. They both require a decent Ethereum or Binance Coin Wallet.
This is one of the best ways to get some Altcoin Currency usually of a specific kind.
You don’t need a lot of money about 50 dollars per coin invested in should suffice. Most of theses coins at the moment are worth less than a cent so you should be fine.
What are some good coins to put some money in?
There are lots of good cryptos and lots of options and most cryptos use the news and the data packets they relate to to grow in value. Altcoins are a huge way to make big cash as most of them are growing at a 2x,3x,or even a 5x in daily gains. So if one made it even to a single cent it would make you a millionaire.
Coins to put your money in
Safemoon=Safemoon is coin designed to mine anything about SpaceX and the Rocket Industry.
Eclipse= Eclipse Is a Currency designed to mine everything but uses a large mining algorithm to hash out coins and other units to allow it to seem basically anonymous.
TITS= TITS is a Crypto designed to mine everything related to breast cancer and it also fluctuates based on studies relating to Cancer as well.
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